Damaris Aide

Damaris has been characterized as being hard working and forceful in order to get her son ahead. At 39 years old, she is a single mother, head of her family with a 6 year old son, who she is looking to provide with everything he needs. Damaris has worked for approximately 9 years selling personal care products, thanks to her grandmother who taught her well. Damaris currently has very good clients, and thanks to this she can affort the expenses of her home and can offer her son an education and stable life.

Damaris has increased her sales thanks to the quality of her products, to the extent that she has had to pass up sales from some orders as a result of not having the capacity to respond to the request. Damaris has very low capital to buy the orders, which she would like to be able to sell in large quantities. Given that she currently has a large order from a client that she does not want to pass up, Damaris hopes that this loan will provide her the opportunity to make the purchase of personal care products such as lotions, makeup, and creams among others, and she can thereby complete her client's order and generate more income for her home.

Damaris dreams of not having to sell in small quantities, rather she would like to get access to more capital that would allow her to have a larger distributor and hire many people who require income. Additionally, Damaris dreams that her son can get ahead, have a good education, and in the future have access to a university education

Additional Information

Important Information

This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.